Getting Home Insurance in Arlington
Home insurance in Arlington protects homeowners against having to pay out of pocket for damages that may occur during disasters. The disasters that are covered vary based on the policy; however, they usually include fire, hail, and wind. As Arlington is located in North Texas, it receives the brunt of tornadoes, thunderstorms, and even the occasional bout of winter weather, all of which make coverage a vital part of homeownership. In addition to protecting homes against disasters, home insurance also covers injuries that visitors may incur while on the property.
In Texas, the average premium is $1,511, according to the Insurance Information Institute (III). Texas is the most expensive state for home insurance, which is in large part due to the frequency of hurricanes, tornadoes, and thunderstorms that take place within the state, according to the III data. Many homeowners must have wind and flood insurance in addition to regular insurance, and those additional policies drive up the cost of coverage.
Factors of Home Insurance Rates in Arlington
The cost of homeowners insurance Arlington depends on a variety of factors. According to the National Association of Insurance Commissioners, these factors include the age and condition of the home, the home’s proximity to fire protection, the claims history of the home, and the materials from which the home is made. Location within Arlington also plays an important part in determining insurance rates. If the home is located in an area with high crime rates, the insurance premium will be more expensive than it is for homes located in areas with low crime rates. The chart below examines crime rates for Arlington:
Another factor that affects homeowners insurance Arlington rates is credit history. A poor credit history will lead to more expensive premiums, and in extreme cases, can even affect your ability to obtain home insurance. If you have trouble getting insurance as a result of your credit history, you can look into obtaining surplus lines insurance, which is insurance for high-risk homeowners who have difficulty purchasing insurance in the traditional insurance marketplace. Surplus line insurance has higher rates than standard insurance, but offers an alternative for individuals who otherwise cannot obtain coverage.